What Is Worldcoin (WLD)?
About Worldcoin
The goal of the Worldcoin plan is to form the largest identification and economic bond in society as a social resource that provides property to anyone.
The Worldcoin concept is based on World ID, a mass identification line that preserves secrecy.
World ID allows users to prove their identity to the human family in the order of the Internet (“Confirmation of identity”), keeping the presence of this secrecy together with the support of confirmations of any knowledge.
To start the service together with the Worldcoin protocol, the public must first use the World App, the first add-on for wallets, which holds the formation of the World ID.
To acquire their own World ID, societies come to a physiological visualization device called an Orb.
Most of the Orb is governed by a network of independent neighborhood companies called Orb Operators.
The Region uses spectral meters with the purpose of control of humanity and also peculiarities, presence of this all without exception drawings according to default are promptly deleted in the organization (presence of lack of obvious unity in preservation of data).
All owners of World ID without exception, who have passed verification in the Region, have all chances to demand the periodic acquisition of free WLD tokens (WLD tokens are not available in the United States of America; see details in the area “WorldcoinTokenomics” in the industrial display of the plan). This can make WLD the most popular numerical currency.
The WLD token is planned as a positive token with the qualities of management, increasing the ability of users and also allowing them to have a voice in the relationship of the upcoming protocol.
In addition to the simple “single token – single voice” controls, the introduction of World ID reveals a “single individual – single voice” approach. These two devices are also likely to be linked to form new management methods.
Already after the launch, the Worldcoin Foundation will demand a regulation and also work together with society on this, as well as World ID and the WLD token are obliged to interact in the modification of Worldcoin management (for more details about management and decentralization, see the plan’s industrial documentation).
The use of the token will be established by the society of users, but in addition, the management can arise and several other alternatives for use. For example, users can authorize the use of the WLD token to pay for specific transactions in the World App or another wallet application, to make other payments, or to formulate consent for specific initiatives or factors.
WLD is considered an ERC-20 token in the Ethereum platform. Physiological individuals will extract their user grants in Optimism Mainnet.
For this reason, most of the transactions with WLD, or rather in general, will be carried out in the bonds of Optimism.
How does Worldcoin Work?
Worldcoin is based on World ID, a mass line of identification that preserves secrecy. Using World ID, the society can argue that they are true, original society, and each platform merges with the protocol.
This will make it possible to carry out bona fide light troopings, guarantee protection from bots/cyber-attacks in public networks, and also guarantee the most objective division of narrow resources.
In addition, World ID is capable of facilitating mass democratic actions as well as the latest governance configurations (for example, together with support for square voting), and in addition, the final result can help the AI-funded UBI approach.
To begin service together with the Worldcoin protocol, the community must first utilize the World App, the 1st add-on for wallets that holds the formation of the World ID.
To acquire their own World ID, societies come to a physiological visualization device called an Orb. Most of the Orb is governed by a network of independent neighborhood companies called Orb Operators.
The Orb uses multispectral meters to control humanity as well as the features, to provide a World ID proven by the Orb, in the presence of which all drawings without exception are by default rapidly deleted in the organization (in the presence of a lack of apparent unity in the preservation of information).
Who Are the Founders of Worldcoin?
Worldcoin was founded by Sam Altman, Alex Blania as well as Max Novendstern (Maxim Novendstern left the plan in July 2021).
The most famous of the co-founders, Sam Altman, is also considered a co-founder and also the current leading boss of OpenAI as well as the former president of the startup incubator Y Combinator.
Initial studies and research for the Worldcoin plan were conducted by Tools for Humanity (TFH) and other partners.
Worldcoin has raised more than $250 million in the United States of America in some funding rounds from similar traders such as a16z, Khosla Ventures, Bain Capital Crypto, Blockchain Capital, Tiger Global, and others.
What Makes Worldcoin Unique?
The task of Worldcoin is to form the largest identification and economic line in society, achieving a truly global distribution in the scope of billions of individuals.
Unlike many other crypto-projects, a significant share of WLD tokens will be allocated to individual nations, simply because they are a society.
Applying World ID, the society can argue that they are true, original society, each platform that merges with the protocol, including web-3 concepts, social ties as well and government projects.
This will make it possible to implement bona fide Ethereum or token/NFT realizations, guarantee protection from bots/sibilant attacks in public networks, and also make it possible to share narrow municipal funds most objectively.
In addition, World ID can facilitate the formation of mass democratic actions as well as the latest governance configurations (for example, together with the support of square voting), and in addition, the final result can help the approach to UBI, funded by AI.
More than 2 million individuals from more than 30 countries on 5 continents passed verification in Orb in the pre-launch phase, which lasted from May 2021 according to Hay Day 2023.
Already after the launch of Worldcoin will be the formation of 1500 Areas in 35+ localities of the Twentieth+ States, to meet the global need for World ID.
Potential Applications
Worldcoin has the potential to significantly increase equality of opportunity around the world, creating a future in which everyone, regardless of location, can participate in the global digital economy through a publicly accessible decentralized financial and identity infrastructure.
As the network evolves, so will its utility.
Today, many interactions in the digital sphere are not possible on a global scale. The way people transact, identify, and interact online is likely to change dramatically.
With universal access to finance and personal identification, the next future becomes possible:
Finance
Owning and transferring digital money: Sending money will be almost instantaneous and borderless, on a global scale.
Accessibility for all. The world can be connected financially and everyone will be able to interact economically online.
The COVID India Relief Fund, where over 400 million dollars has been raised in a short period from individuals around the world to support the country, is a hint of what could be possible.
Overall, this technology has the potential to connect people on a global scale, something that has never been seen before in human history.
Identification
Keep Bots Out: Twitter bots, spam messages, and rob calls are all symptoms of the lack of a reliable and seamless digital identity.
These problems are exacerbated by rapidly evolving artificial intelligence models that can solve CAPTCHA problems and create content that is convincingly “human-like.”
As services increase their defenses against such content, it becomes important that the identity verification solution is publicly available and privacy-preserving.
If every message or transaction included a “verified human” property, a lot of noise could be filtered out of the digital world.
Governance: Currently, collective decision-making in web3 relies heavily on token-based governance (one token is one vote), which eliminates the participation of some people and heavily favors those with more economic power.
A robust, sibilance-resistant proof of identity, such as World ID, opens the space for developing mechanisms for global democratic governance not only in web3 but across the entire internet.
In addition, for AI to maximize benefits for all people, not just a select group, it is increasingly important to involve everyone in its governance.
Where can I buy Worldcoin?
WLD tokens can be traded on centralized crypto exchanges.
The most popular exchange to buy and trade Worldcoin is Binance, where the most active WLD/USDT trading pair has a trading volume of $190,873,464 in the last 24 hours.
Other popular options include MEXC and Bitget.
What is Worldcoin (WLD)’s daily trading volume?
Worldcoin (WLD) has a trading volume of $493,636,264 in the last 24 hours, up 14.10% from the previous day and indicating a recent increase in market activity.
What is the all-time high for Worldcoin (WLD)?
The highest price paid for Worldcoin (WLD) is $5.85 and was recorded on February 18, 2024 (20 minutes).
Comparatively, the current price is 0.08% below the all-time high.
What is the historical low for Worldcoin (WLD)?
The lowest price for Worldcoin (WLD) is $0.9731 and was recorded on September 13, 2023 (5 months).
Comparatively, the current price is 501.42% higher than the all-time low price.
What is Worldcoin (WLD)’s market capitalization?
Worldcoin (WLD) has a market capitalization of $793,256,619 and is ranked #107 on CoinGecko today.
Market capitalization is determined by multiplying the token price by the circulating supply of WLD tokens (130 million tokens traded on the market today).
What is the fully diluted valuation of Worldcoin (WLD)?
The fully diluted valuation (FDV) of Worldcoin (WLD) is $60,795,758,346.
This is a statistical representation of the maximum market value assuming the maximum number of 10 billion WLD tokens in circulation today.
Depending on how the WLD token issuance schedule works out, it could be several years before the FDV is realized.
How does the price of Worldcoin compare to its peers?
With a price increase of 143.50% over the past 7 days, Worldcoin (WLD) is outperforming the global cryptocurrency market, up 8.40%, and outperforming peers in the Ethereum ecosystem, up 12.70%.
How do I add Worldcoin (WLD) to MetaMask?
By adding Worldcoin (WLD) to MetaMask, you will be able to view your tokens, trade on decentralized exchanges, and more.
To add them, you need to import WLD as a token.
You can copy the WLD contract address (0x163f8c2467924be0ae7b5347228cabf260318753) and import it manually, or if you’ve installed the MetaMask extension for chrome, add WLD to MetaMask with a single click on CoinGecko.